E. Ohman J or Asset Management AB Acquires 47,000 Shares of U.S. Bancorp (NYSE:USB)

E. Ohman J or Asset Management AB raised its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 208.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,500 shares of the financial services provider's stock after buying an additional 47,000 shares during the quarter. E. Ohman J or Asset Management AB's holdings in U.S. Bancorp were worth $2,934,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. J.Safra Asset Management Corp purchased a new stake in shares of U.S. Bancorp in the fourth quarter worth $26,000. FPC Investment Advisory Inc. purchased a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $30,000. Picton Mahoney Asset Management purchased a new position in U.S. Bancorp in the 4th quarter worth approximately $30,000. Finally, Millstone Evans Group LLC bought a new position in U.S. Bancorp in the 4th quarter valued at approximately $31,000. Institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on USB. Keefe, Bruyette & Woods lowered their price target on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Royal Bank of Canada lowered their price objective on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. TD Cowen assumed coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They issued a "buy" rating and a $60.00 target price for the company. Morgan Stanley dropped their price target on U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Wall Street Zen cut U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.72.

U.S. Bancorp Trading Up 0.9%

NYSE:USB traded up $0.39 during midday trading on Tuesday, hitting $45.26. 5,792,465 shares of the company traded hands, compared to its average volume of 9,041,031. The firm's fifty day moving average is $41.31 and its 200-day moving average is $45.27. The firm has a market capitalization of $70.51 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.73 and a beta of 0.99. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same quarter last year, the firm earned $0.78 earnings per share. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Buying and Selling

In related news, Director Aleem Gillani bought 5,000 shares of U.S. Bancorp stock in a transaction dated Monday, April 21st. The shares were acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $559,800. The trade was a 50.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.